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  U.S. Senate Senate Re-air K Sen. Leader Mc Connell on Small Business Loan...  CSPAN  April 9, 2020 3:32pm-4:07pm EDT

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on which we entered this crisis to a position of regained economic strength on the others. thanking these by millions on the front lines, those working in health care, sanitation, transportation, grocery stores, warehouses, deliveries, security, and countless others. they after day, you will put yourself in harms way for others, to care for us, to ensure we have access to the things we need, and to help us to this difficult time. ♪ >> television has changed since cebit -- ccn began 41 years ago -- since c-span began 41 years ago. we brought you primary election coverage, the presidential impeachment process, and now the federal response to the coronavirus. you can watch all of our public affairs programming on television, online, or listen on our free radio app. be part of the national
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conversation through our washington journal program. c-span, created by private industry. as a public service and brought to you by your television provider. >> the u.s. senate gaveled in this morning. mitch mcconnell attempted to approved by unanimous consent and increase to the paycheck protection program. the ranking democrat on the small business committee objected and said the majority leader had not negotiated with democrats on this package. senator chris van hollen also the floor and tried to call up another small business bill. this is about half an hour. >> our nation continues to battle the coronavirus pandemic.
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americans have00 tested positive. nearly 15,000 have lost their lives. emts areoctors, and fighting this disease literally day and night. an important -- important public health measures are creating economic catastrophe. this morning, we learned that 6.6 million more americans filed for unemployment in just the last week. that means, mr. president, more than 16 million americans have lost their jobs in the last three weeks. is hard to even comprehend. as one journalist put it, we are facing health care crisis with an economic crisis strapped to its back. that is why two weeks ago the senate passed the largest rescue
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package in american history. the bipartisan care is act twoeled $2.2 trillion in programs -- programs. before we adjourned, i said the senate would stay nimble and prepare to react quickly as the legislation came online. that is why we are here today. much of the cares act is still being implemented. programprogram, one key is already up and running. it is the paycheck protection program from chairman rubio, senator cornyn, and senator shaheen. it gives small businesses emergency capital so workers can keep getting paychecks instead of pink slips. lips. just a few days after the program opened for business, $100 billion in loans have
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already been committed. that is 30% of the total funding spoken for in just the first few days. i say that's very good news. it means this job-saving program is attractive to small business, employers can access it, but it also means we need more funding, and we need it fast. soon i will ask unanimous consent to increase the funding for the paycheck protection program to a new total of $600 billion. i'm not talking about changing any policy language that both sides have already negotiated together several weeks ago. i am literally talking about deleting the number 350 and writing 600 in its place. let me say that again. we're not talking about making any policy changes. we're literally changing the number 350 to 600.
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that's all that we are suggesting here today. that by definition is a clean bill. i want to add more money to the only part of our bipartisan bill that is currently at risk of running out of money. so i was surprised to see this simple proposal met uneasily by the democratic leadership. the distinguished democratic leader and the speaker of the house sought to use this crucial program to open broader negotiations on other topics, including parts of the cares act where literally -- listen to this, mr. president -- literally no money has gone out the door yet. no money has gone out the door yet. the democratic leadership has suggested they may hold americans' paychecks hostage unless we pass another sweeping bill that spends a half a trillion dollars doubling down on a number of parts of the
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cares act, including parts that have not even started to work yet. the country cannot afford unnecessary wrangling or political maneuvering. treating this as a normal kind of partisan negotiation could literally cost americans their jobs. we are in a situation right now where passing a bill means either unanimous consent or a voice vote. everyone knows, everyone there is zero chance that the sprawling proposal that our democratic friends have gestured towards could pass either chamber by unanimous consent this week, no chance. and the president has already indicated he would not sign it. the country needs us to be nimble, nimble. to fix urgent problems as fast as we can. to be able to have focused
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discussions on urgent subjects without turning every conversation into a conversation about everything. without turning every conversation into a conversation about everything. we need to patch holes as we see them and keep moving forward together. everybody in the senate voted to send historic funding to hospitals and health care providers. everyone supports funding hospitals. i'm in favor of even more funding for hospitals and providers down the line. i have been talking to a number of them, as i'm sure our colleagues have, over the last couple of weeks. but certainly we need to see that fixing the existing funding begin to work before we know what additional resources may be needed. i have been urging secretary azar to push this money onto the
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front lines as soon as possible. i'm glad tens of billions are going to go out tomorrow. there's only one part of the cares act that is already, already at risk of exhausting its funding right now. only one part of the cares act is at risk of exhausting its funding right now. the paycheck protection program. we're asking small business owners across america to place we're asking them to keep workers on payroll because congress, the treasury, and the s.b.a. will have their back. we must not fail them. my colleagues must not treat working americans as political hostages. this does not have to be, nor should it be, contentious. we don't have to divide along the usual lines so soon after we came together for the country. to my democratic colleagues,
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please, please do not block emergency aid you do not even oppose just because you want something more. do not block emergency aid you do not oppose just because you want something more. nobody believes this is the senate's last word on covid-19. we don't have to do everything right now. in fact, our posture of needing unanimous consent does not even permit us to try to do everything right now. we cannot play games in this crisis. let's pass more noncontroversial funding for americans' paychecks. let's do it today. and then let's continue to work together with speed and
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bipartisanship. we will get through this crisis together. now, mr. president, i ask unanimous consent the senate proceed to the immediate consideration of the bill at the desk. i further ask that the bill be considered read a third time and passed and the motion to reconsider be considered made and laid upon the table. the presiding officer: is there objection? mr. cardin: reserving the right to object. the presiding officer: the senator from maryland. mr. cardin: thank you, mr. president. let me just clarify some of the issues that the majority leader pointed out. i'm afraid that this unanimous consent is basically a political stunt because it will not address the immediate need of small businesses in the legislation that we have passed. and let me clarify that. the majority leader indicated that the p.p.p., the paycheck
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protection plan, has run out of money. it hasn't. 30% has been committed. it hasn't been yet released. but there are programs under the cares act that have run out of money. the idle program, the emergency disaster relief loan program, which provides funds for businesses, and we have allowed businesses that have been affected by the coronavirus to follow those claims, that has run out of money. and i will give you numbers in a few moments. and the grant program that's included in cares. up to $10,000 where a small business can get a grant from the small business administration is out of funds. they need money today in order to process applications. the s.b.a. doesn't mean money today to process the paycheck protection program. the paycheck protection program was negotiated in good faith by
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senator rubio, senator collins, senator shaheen and myself, and we're very proud of that program. it's working very well. it's a good program. we strongly support it. it's bipartisan. but this unanimous consent request was not negotiated. there was no effort made to follow the process that we could get this done. so it won't get done. it's not going to be enacted. the majority leader knows that. so what democrats are prepared to make clear and support, every small business that wants the paycheck and protection plan, we're going to support that applicants are fully funded to make sure every small business can participate that's eligible in that program. the u.c. does not affect that today. but what the u.c. leaves out is
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where small businesses need help today from the united states congress. so yesterday we had an opportunity to find out the numbers. as the majority leader pointed out, we've got to get this right. there are 6.6 million more uninsured today as we learned from the current numbers. we've got to protect small businesses to protect their payroll, and that's what our plans do. so yesterday we were informed by the s.b.a. that as the majority leader indicated, we have about $100 billion that had been processed that has not been distributed yet, mr. president, hasn't been distributed in large numbers because of documentation problems and know your customer rules have prevented a majority of these funds to be released. but today applications are being processed. tomorrow applications are going to be processed. the day after that applications are going to processed because we provided $350 billion.
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at this moment we're at about $100 billion. we're probably going to have to provide more money. we're all for that. but where is the urgency as far as the small businesses are concerned? then we go with those. one, the emergency grant program, this is a program that's, where grants are offered by the small business administration. you don't have to have a banking relation with a commercial bank in order to get these loans. they are very popular. 3.8 million requests have come in in regards to these loans. 3.8 million, representing $372 billion of loans. but here's the problem. we've only authorized $7.3 billion of loans under the program. that's why we are suggesting that if you add another50 billion dollars, you can authorize another $300 billion of loans under the emergency
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relief, disaster relief program. because today if you've requested that loan, today if you requested, the average amount that's being requested -- and you have to show need in this program. you've got to document the need, that the disaster has affected your viability as a business. the average loan is $200,000. that's what they're requesting. guess how much money the s.b.a. can issue today? $15,000. that's an urgent need that we should deal with today. and we're prepared to deal with it. but there's a second program. by the way, small businesses participate in these programs more so than the p.p.p. program. there's a second program. it's a grant program up to $10,000. our working group, bipartisan group recognized that there are some businesses that are in desperate need of cash immediately. these loans are processed within three days. and we've had so far requests for the grant program, 3.5
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million small businesses have requested funds totaling the request for $11 billion on a sliding scale. it doesn't give every small business $10,000. how much money did we appropriate? $10 billion. the s.b.a. cannot release those funds in three days because they don't have the money to do it. the u.c. by the majority leader does not provide that money so that those small businesses can get that cash. that's not provided. we got that information yesterday. maybe the majority leader didn't have it, but we can tell you, they can't issue those grants, and that's under the cares act, and that is out of money. so i will also tell you stories we've heard in maryland and heard all over the country. i've heard from small businesses that they went to their bank in order to participate in a p.p.p. loan and they were told that they didn't have a credit card so the bank wasn't going to write the loan or they hadn't had a previous loan with that bank so the bank is not going to
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write the loan. we've heard from some community banks that they only can handle existing customers. they can't do additional customers at this point. so we've heard from rural banks, rural small businesses, they can't find lenders who will write these notes. we've got to do a better job. what did we find out yesterday? of the total 7-a lenders that are out there today, about 90% were certified before the cares act. we've only increased the numbers by about 10%. that's not enough. we can't reach these underserved communities. we've got to do a better job in reaching these underserved communities so that a small business that doesn't have that type of relationship with a bank can stil participate in the paycheck protection plan. this u.c. does nothing at all about that issue. nothing at all about that. the urgent issues are not dealt with in this u.c. so that's why the process of negotiating, allowing us to
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come together and figure out what's the best way to move forward will result in us actually getting something done to help the small business community. and there are other urgent needs and my colleague senator van hollen is going to talk about some of these. but the health care issues, my colleague and i participated in numerous conference calls over the last two weeks. i'm sure my other colleagues have done the same. and we've heard from our health care providers that they're ready to close the doors. they need immediate help and a lot more than the $100 billion provided. we talked to our governor yesterday, head of the national governors association, they requested $500 billion. they need money, their revenues are down. we know we didn't do right for the district of columbia, we didn't do right for smaller communities. we need to correct that now because they can't stay in business today. it's urgent. and the u.c. does nothing to help in that regard. so, mr. president, if i
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could, i'd like to allow my colleague from maryland who i believe has a reservation also, and then as a u.c. request of his own. the presiding officer: the senator from maryland. mr. van hollen: thank you, mr. president, reserving the right to object. this is an unfortunate moment for the united states senate. you know, we came together on a bipartisan basis just a very short time ago to pass the cares act. it passed here 96-0. that followed two other bipartisan efforts that came out of the house, passed the senate, were signed by the president. again, overwhelming support. and yet today we see from the majority leader a complete political stunt here on the floor of the united states senate, something that does not have bipartisan support,
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something that is go it alone, take it or leave it, and totally violates the spirit all of us have been working on during this crisis, where we were able to come together in the united states senate and the house of representatives with the white house to on three prior occasions pass legislation in a way that addressed the issues that are important to this country. and yet today we have this situation where the majority leader knew full well that there was not agreement and consensus on moving forward with this proposal. that's why we're here today. this was in fact designed to fail, designed as a political stunt. it's actually not the first time we've seen this. you may recall that just before we came together and passed the cares act 96-0, the majority leader came to the floor of the senate back then and tried to ram through an unfinished
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product while negotiations were going on between secretary mnuchin and democrats in the house and senate to try to finalize the bill. and that actually caused unnecessary delay. but the majority leader came to the floor then, tried to ram it through. it didn't work then and it's not going to work today. so i would ask the majority leader, i think all of us would to go back and try to address these issues the way we addressed them in a successful manner before. and i'm going to shortly propose an amendment that addresses some of those concerns, an amendment to the majority leader's proposal. but i'd like to address some of the issues first, and my colleague senator cardin has addressed many with respect to small businesses. first of all, he pointed out that the one program to help small businesses is actually really run out of money is the
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emergency loan and grant program. but but let's talk about the pz pz pz program. this is a really important program. to insent advise small businesses and nonprofits, to keep employees on the payroll and allow them to keep the lights on, pay fixed mortgage, whatever the rent may be, so they can emerge on the other side of the storm without having had to fold. many of us anticipated long before the cares act passed that this program would need more money. i was part of a group that proposed $600 billion for a program like this, recognizing the demand would be huge. as it is on other programs. but it's not just in need of more money. it needs some important fixes which i dare say would have bipartisan support as well. i don't know if the majority leader saw the letter just this morning from the national
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restaurant association. here is what they say. the p.p.p. is funded at $349 billion, and we expect that lenders will reach that ceiling shortly. we appreciate the bipartisan calls this week to provide prompt additional funding for the program. then they go on to say, however equally important, equally important is the need to address the limitations of the program that do not recognize the unique and evolving changes of the restaurant business cycle and our path to recovery. this is not a republican group or a democratic group. this is a group that represents small businesses, restaurants and what they say to us this morning is yes, we do need additional money. we know that. but equally important, let's fix some of the kinks, and there are kinks in this program. i got a letter around 12:44 a.m. this morning from a small
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business owner who had been banking with wells fargo. then, of course, wells fargo hit the cap. we thought we had dealt with that in recent days, but he's not sure he is still going to be able to get that loan through wells fargo, and he says i have also now looked at more than 100 websites of 7-a lenders in the greater d.c. area and have found none, capital letters, none that will accept a p.p.p. application from any small business that did not bank with them before february 15, 2020. here's some other headlines in recent days. baltimore area small businesses complain of continuing problems gaining access to federal lending program. nightmare. three small business owners describe process of applyig for p.p.p. coronavirus loans. the journal, community bankers frustrated with p.p.p. rollout. another headline. this one from -- this is another
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part of the country. this is p.p.p. loan plan a mess so far for small businesses riding out coronavirus crisis. billions disbursed through paycheck protection program, say not yet. "wall street journal," big banks favor certain customers in $350 billion small business loan program. another article, many small businesses are being shut out of the new loan program by major banks. so, mr. president, what we're saying here today is yes, we know we need more money for this program. many of us predicted this before we passed the cares act. but for goodness sakes, let's take the opportunity to make some bipartisan fixes to allow this program to work better for the very people it's designed to help -- small businesses, nonprofits. that's what they are asking us to do.
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it's what the restaurant association is asking us to do. that's what they want us to do. and we could do it probably just as quickly if the majority leader took a moment to sit down with us and negotiate that piece. but there are also other major demands on the system right now that we should address at this moment. and one of them is something i know we're all hearing about every day, which is to protect the health care workers on the front lines. after all, if we want to address the economic crisis, we need to address the health crisis that precipitated that. we need to flatten this virus out, bring it down, and that's the best way to get on the road to economic recovery. so i'm sure all of my colleagues are hearing from their nurses and doctors and front line health care workers about the urgent need for patient protection equipment. we provided funds in the
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original bill, but we know today that that will be exhausted quickly. we know it because we can add up the requests coming from around the country. so let's address that issue. we're hearing from it every day. just yesterday in our delegation, our region, senator cardin and i and other members of the maryland delegation, we wrote to fema just yesterday, to the administrator of fema, and we pointed out that in our most recent requests, virginia, maryland, and the district of columbia received just a small percentage of the equipment that we have requested from fema. the district received no hospital ventilators. and i would point out for all of us who are following this, it's predicted that this area, maryland, d.c., and virginia, is going to be one of the next hot spots. zero ventilators. zero safety goggles. we asked for 663,000 gloves and
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over one million respirator masks. we got 4,000 of one. so that is one problem we need to address on an urgent basis just as urgently as we need to address -- needed to address the small business situation. testing. my goodness, look. this virus, we all know, got an eight to ten-week head start on us because we were flatfooted when it came to testing. we need a national rapid testing system so that we can ensure that people will get the tests and find out whether they have the virus. that not only helps us fight the virus, but it will also help us as we try to get the country back to work on the other end of this. i would propose that those are real needs as well. and that we can address those here now. in addition to that, as senator cardin said, we just spoke to
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maryland's governor yesterday who in addition to being maryland's governor is the head of the national governors' association. he and governor cuomo have worked very closely together. we have a bipartisan request from the national governors' association to help states and local jurisdictions. we havebeen on the phone nonstop with our local officials. they are running out of equipment. we have got firefighters who need help. we have emergency responders who need help. all of these requests are urgent, and i believe could be dealt with on a bipartisan basis. if the majority leader would just take a moment, instead of trying to rush this through, would take a moment, we could actually get it done, as we were able to do before with the 96-0 vote. so at this time, mr. president, i have the amendment at the desk. i know people are anxious to get
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out of here. we didn't have to come in at all if it hadn't been for the decision to try to ram this through. i just want to make that point. mr. majority leader, we knew this wasn't going to get through. so i see people are frustrated and want to leave, but let's get it done and let's get it done right and let's have another 96-0 vote here in the united states senate. so i ask that the majority leader modify the request and ask that the amendment at the desk, which is the text of the interim emergency covid-19 relief act be agreed to, the bill as amended be read a third time and passed, with no further intervening action or debate. the presiding officer: is there objection to the modification? mr. mcconnell: i object. the presiding officer: objection is heard. is there objection to the original request? mr. van hollen: i object. the presiding officer: objection is heard. mr. mcconnell: mr. president. the presiding officer: the majority leader. mr. mcconnell: i would just repeat -- all the amendment i
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offered would do is change the amount in the bill. that's all. to respond to the obvious emergency >> we will have live coverage of the next white house coronavirus task force re-think today starting at 5 p.m. eastern on c-span. tonight, a special evening addition of washington journal on the federal response to the coronavirus crisis. join us at 8 p.m. eastern with the medical director of the special pathogens unit at boston university school of medicine and massachusetts congressman jim mcgovern on the pandemic response in his district. join the conversation. washington journal of primetime tonight at 8 p.m. eastern on c-span.
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c-span has round-the-clock coverage of the federal response to the coronavirus pandemic and it's all available on demand at c-span.org/coronavirus. watch white house briefings, updates from governors and state officials. track the spread throughout the u.s. and the world with interactive maps. watch on-demand anytime unfiltered at c-span.org/coronavirus. the labor department announced 6.6 million americans filed for unemployment last week, adding to a growing total. the washington post writes more than 17 million new jobless claims have been filed in the past four weeks. a rapid and unprecedented escalation in unemployment in the u.s. since the week president trump declared a national emergency because of the novel coronavirus. the 17 million figure includes
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new reporting from the labor department that even more people file for unemployment in the prior week, pushing the claims up during the week ending march 20 82 a record 6.9 million, up from 6.6 million. you can read more at washingtonpost.com. up next, new york governor andrew cuomo updates the state response to the coronavirus pandemic. the governor announces 799 new yorkers died on wednesday, another single day record for the state but the rate of hospitalizations and icu admissions continue to show evidence of decline. from earlier, this is about 40 minutes. gov. cuomo: important to take it over a at where we are in context, the perspective because we are starting to see a shift and i want to make sure people actually keep the shift in perspective. and understand where we are in
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the scope of our journey through this situation. since ween 18 days closed down new york. i know it feels like a lifetime. i tell my daughters every day. only 18 days since everything closed down. 39 days since the first covid case in new york. it feels like a lifetime. firsts since we have the covid case in the united states. 80 days. life-changinge, 80 days, but that's what it has been. when we started this situation that we are still in the midst of, before people get march,ent, the end of the white house task force was still talking about 1.5 million to 2.2 million deaths, ok? their best case scenario with